AI revolution reshapes industry landscape! Morgan Stanley's heavyweight calculations: AI generates $920 billion in net benefits annually, equivalent to 28% of profits for S&P 500 companies.

NVIDIA Corporation (NVDA.US) sits firmly at the top of the global financial field with a market value of 4.5 trillion USD, surpassing the total market value of the 2000 companies in the Russell 2000 index. It is also deeply held by 667 ETFs, making it one of the most widely held individual stocks in global investment portfolios. Behind this market landscape reflects the strong allure of artificial intelligence technology on industrial capital. As revealed in the latest research by Morgan Stanley, the economic value creation brought by AI technology may far exceed implementation costs. According to Morgan Stanley's estimation, the annual net economic benefits generated solely from AI applications could reach around 920 billion USD, equivalent to 28% of the pre-tax profits of S&P 500 index component companies in 2026 (after deducting implementation costs), corresponding to an incremental market value of 13 trillion to 16 trillion USD. However, analysts at the firm emphasize that achieving this goal will take several years, and the actual benefit to companies is uncertain, with risks that cannot be ignored. The overall value, as pointed out by Morgan Stanley strategists including Stephen Berd, will be achieved through "comprehensive growth, productivity, and innovation sources", with implementation costs accounting for about 5% of customer benefits. The study breaks down AI value creation into two categories: agent-based AI (software systems performing virtual tasks) is expected to contribute 490 billion USD annually, representing 15% of pre-tax revenue in 2026; embedded AI (physical systems like humanoid robots) corresponds to 430 billion USD, accounting for 13%. Berd highlights that agent-based AI has a broader impact range, while embedded AI, though covering a narrower range of professions, is more likely to achieve automation substitution in applicable areas, with deployment costs estimated at 5 USD per hour. Furthermore, there is significant differentiation in value creation at the industry level: sectors such as consumer essentials, distribution retail, real estate management, and transportation show potential savings exceeding 100% of expected pre-tax revenue in 2026; multiple industries have potential savings exceeding 50%, while the AI impact is relatively lower in sectors like technology hardware and semiconductors. Based on this, Morgan Stanley has created a heatmap of AI value creation, identifying medical equipment, transportation, consumer services, software, capital goods, automotive, and staple distribution retail as the most promising areas. It is worth noting that the study suggests the industrial sector is a "underestimated structural beneficiary", providing support for its increased position. Based on initial assessments, AI-driven efficiency improvements are expected to contribute 30 basis points and 50 basis points to the net profit margin of the S&P 500 index in 2026 and 2027, respectively. Morgan Stanley analysts point out that there is room to raise benchmark forecasts for AI-driven profit margin expansion. This conclusion highlights the strategic position of artificial intelligence in reshaping the global industrial landscape. It is noteworthy that the impact of this technological transformation on the job market may be better than expected - while some positions face the risk of replacement, AI is more likely to alleviate labor shortages. The report uses the example of computer proliferation: while this technology reduced traditional jobs such as secretaries and accountants in the 1990s, it also created a large number of positions for programmers and computer scientists. Based on analysis of 200,000 anonymous conversations between users and the publicly generated AI system Bing Copilot, Microsoft Corporation found that AI has the most significant impact on brainpower-intensive jobs, while physically labor-intensive jobs are less affected. This finding echoes the trend in business investment - Wells Fargo & Company economists observe that companies are currently prioritizing investments in high-tech areas such as software development, information processing equipment, and manufacturing facilities, with spending surpassing that in transportation and industrial equipment combined. "This may just be the beginning of a high-tech production boom," economists Shannon Green and Tim Quinlan point out. Although the high-tech industry currently accounts for only 3% of US manufacturing output, the trend of capacity expansion is evident as new types of factories shift towards high-end manufacturing. From equipment investment to structural adjustments in employment, artificial intelligence is reshaping the global economic landscape through multiple pathways. Of note, several highly concentrated funds stand out in ETFs focusing on NVIDIA Corporation. The top five funds in terms of holdings percentage are: ProShares Ultra Semiconductors (USD.US) with 27.6% holding, GraniteShares 2x Long NVDA Daily ETF (NVDL.US) closely following at 26.38%, Strive US Semiconductor ETF (SHOC.US) at 24.47%, Global X PureCap MSCI Information Technology ETF (GXPT.US) holding 23.09%, and VanEck Semiconductor ETF (SMH.US) ranking fifth with a holding rate of 22.19%. These data confirm the market's strong recognition of NVIDIA Corporation's core position in the semiconductor and AI fields.